Sony to sell new $399 PlayStation 3 in U.S.

Sony announced on Thursday that it will begin selling the cheaper 40GB PlayStation 3 in the U.S. on Nov. 2 in an effort to boost slow sales.

The new 40GB PS3 -- is $399 the right price?

The new 40GB PS3 -- is $399 the right price?

As previously reported, the 40GB PS3 excludes backwards compatibility of PS2 games and features two USB ports instead of four. In addition to introducing a cheaper PS3, Sony immediately cut the price of the 80GB MotorStorm bundle to $499 as expected.

"We're choosing to focus on the PlayStation 2 consumer with the PlayStation 2, which remains incredibly relevant, and focus on the PlayStation 3 consumer with the new 40-gigabyte model and the great software coming out," PlayStation boss Jack Tretton said when asked by Reuters about the absence of backwards compatibility.

"Backward compatibility is a nice secondary consideration, but it's far from the number-one priority," Tretton added.

The $399 PS3 arrives in stores on Nov. 2. The new model launched earlier this month in both Europe and Japan to nearly a 150 percent boost in sales.

In pictures: The new 40GB PS3

THE VERDICT by Blake Snow Blake Snow's Avatar This is a very good price for PS3 me thinks. I bought one when the 60GB dropped to $500, but I expected this to happen before the holidays. The real question, however... is this enough to put team PlayStation back on top, or have most gamers already set their sites and 360 and Wii gaming?

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